You sometime have to wonder just what would happen if our own politicians were forced to follow the standard and rules that officers of corporations need to follow. you know, the rules where they end up going to jail for breaking. Take this non-surprising news out today:
President Obama's national health care law will cost $1.76 trillion over a decade, according to a new projection released today by the Congressional Budget Office, rather than the $940 billion forecast when it was signed into law. Democrats employed many accounting tricks when they were pushing through the national health care legislation, the most egregious of which was to delay full implementation of the law until 2014, so it would appear cheaper under the CBO's standard ten-year budget window and, at least on paper, meet Obama's pledge that the legislation would cost "around $900 billion over 10 years." When the final CBO score came out before passage, critics noted that the true 10 year cost would be far higher than advertised once projections accounted for full implementation. - Washington Examiner
This is no surprise. The accounting tricks were put in by design as one of the main selling points of ObamaCare was that it was going to save money. This is a lie and it was a lie when it was told to the American people when they were trying to get the bill pass into law.
Had a publicly traded corporation pull such financial shenanigans, the shareholders would be suing the officers and directors of the firm and the SEC and other parts of the Government would be digging through every corner of the corporation investigating the kinds of criminal charges they could bring against management and what kind of fines they could impose on the corporation. Take this recent example:
The government filed in federal court Monday a $25 billion settlement with the five largest mortgage lenders, putting an official stamp on the landmark agreement over alleged foreclosure abuses. The court papers offered few new details on the deal between the federal government, 49 states and Bank of America Corp., Wells Fargo & Co., JPMorgan Chase & Co., Citigroup Inc. and Ally Financial Inc. The deal was first announced last month. - Washington Post
This is what happens to banks for partly doing exactly what the Government wanted. It wasn't until the house of cards fell apart that they went looking for a fall guy. And what of the Government-sponsored entities who created the demand for crappy mortgages?:
The deal applies only to privately held mortgages and not to those owned by mortgage giants Fannie Mae and Freddie Mac. Banks own about half of all U.S. mortgages, or about 30 million loans; Fannie and Freddie own the other half. - Washington Post
You don't need to look far for other examples. Take the Department of Justice's arming of criminals through Fast and Furious. If Americans went and did this on their own, they would be thrown behind bars for the rest of their lives. So far the Government is protecting the Government 'servants' who were the masterminds of this criminal activity. Then take the issue of illegal aliens. As an employer, you're screwed if your caught with a company full of illegal aliens. And yet, those running the Government are doing everything possible to ensure that they are around to be able to look for jobs.
This can't last. It won't. Just watch out when it all falls apart.As for the ObamaCare lie, people should be held accountable, starting with the President. The first step is voting him out come this fall.